Getting RE License for Myself

[XBoxBoy]

[quote=Rustico]Wow, this thread has really exposed the predicament a diy unlicensed buyer, who wants to see some value rewarded for his efforts, faces.The cartel lives on.[/quote]

Isn’t that the truth! I’m sure there are ways around it at times, but only if the listing agent is agreeable.

[quote=Rustico]It seems like a reasonable compromise could be reached easily,on a case by case basis.

So where does that put you Now xBoxBoy?[/quote]

Well, honestly getting a license just to simplify my own purchase doesn’t seem worthwhile. I don’t think it would bring that much to the table, unless I was with a broker. And somehow I figure that he’d want some part of the commission.

I figure the best strategy is to start by approaching the seller’s agent before you make an offer. See what they are agreeable to regarding commission, etc. If they don’t seem receptive to passing the commission back to the seller, then just go with someone like redfin. (Or potentially approach someone else telling them as you suggest that I would be a low maintenance client)

But I must say I’ve really learned a lot from this thread.

XBoxBoy

[urbanrealtor]

[quote=XBoxBoy][quote=Rustico]Wow, this thread has really exposed the predicament a diy unlicensed buyer, who wants to see some value rewarded for his efforts, faces.The cartel lives on.[/quote]

Isn’t that the truth! I’m sure there are ways around it at times, but only if the listing agent is agreeable.

[quote=Rustico]It seems like a reasonable compromise could be reached easily,on a case by case basis.

So where does that put you Now xBoxBoy?[/quote]

Well, honestly getting a license just to simplify my own purchase doesn’t seem worthwhile. I don’t think it would bring that much to the table, unless I was with a broker. And somehow I figure that he’d want some part of the commission.

I figure the best strategy is to start by approaching the seller’s agent before you make an offer. See what they are agreeable to regarding commission, etc. If they don’t seem receptive to passing the commission back to the seller, then just go with someone like redfin. (Or potentially approach someone else telling them as you suggest that I would be a low maintenance client)

But I must say I’ve really learned a lot from this thread.

XBoxBoy
[/quote]
Not a bad idea but I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb. However, I think that I would be less irritated if as a buyer agent, a buyer came to me and asked for some percentage of my cut in exchange for giving me easy business.
I have a 70% split currently and if I got half that for just doing offers and escrow that might not be so bad. I mean there would have to be some ground rules set beforehand but it would not be the worst thing.
Again I don’t mean to say that approaching the listing agent is terrible idea, just that the incentive structure does not favor you.

[urbanrealtor]

[quote=XBoxBoy][quote=Rustico]Wow, this thread has really exposed the predicament a diy unlicensed buyer, who wants to see some value rewarded for his efforts, faces.The cartel lives on.[/quote]

Isn’t that the truth! I’m sure there are ways around it at times, but only if the listing agent is agreeable.

[quote=Rustico]It seems like a reasonable compromise could be reached easily,on a case by case basis.

So where does that put you Now xBoxBoy?[/quote]

Well, honestly getting a license just to simplify my own purchase doesn’t seem worthwhile. I don’t think it would bring that much to the table, unless I was with a broker. And somehow I figure that he’d want some part of the commission.

I figure the best strategy is to start by approaching the seller’s agent before you make an offer. See what they are agreeable to regarding commission, etc. If they don’t seem receptive to passing the commission back to the seller, then just go with someone like redfin. (Or potentially approach someone else telling them as you suggest that I would be a low maintenance client)

But I must say I’ve really learned a lot from this thread.

XBoxBoy
[/quote]
Not a bad idea but I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb. However, I think that I would be less irritated if as a buyer agent, a buyer came to me and asked for some percentage of my cut in exchange for giving me easy business.
I have a 70% split currently and if I got half that for just doing offers and escrow that might not be so bad. I mean there would have to be some ground rules set beforehand but it would not be the worst thing.
Again I don’t mean to say that approaching the listing agent is terrible idea, just that the incentive structure does not favor you.

[urbanrealtor]

[quote=XBoxBoy][quote=Rustico]Wow, this thread has really exposed the predicament a diy unlicensed buyer, who wants to see some value rewarded for his efforts, faces.The cartel lives on.[/quote]

Isn’t that the truth! I’m sure there are ways around it at times, but only if the listing agent is agreeable.

[quote=Rustico]It seems like a reasonable compromise could be reached easily,on a case by case basis.

So where does that put you Now xBoxBoy?[/quote]

Well, honestly getting a license just to simplify my own purchase doesn’t seem worthwhile. I don’t think it would bring that much to the table, unless I was with a broker. And somehow I figure that he’d want some part of the commission.

I figure the best strategy is to start by approaching the seller’s agent before you make an offer. See what they are agreeable to regarding commission, etc. If they don’t seem receptive to passing the commission back to the seller, then just go with someone like redfin. (Or potentially approach someone else telling them as you suggest that I would be a low maintenance client)

But I must say I’ve really learned a lot from this thread.

XBoxBoy
[/quote]
Not a bad idea but I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb. However, I think that I would be less irritated if as a buyer agent, a buyer came to me and asked for some percentage of my cut in exchange for giving me easy business.
I have a 70% split currently and if I got half that for just doing offers and escrow that might not be so bad. I mean there would have to be some ground rules set beforehand but it would not be the worst thing.
Again I don’t mean to say that approaching the listing agent is terrible idea, just that the incentive structure does not favor you.

[urbanrealtor]

[quote=XBoxBoy][quote=Rustico]Wow, this thread has really exposed the predicament a diy unlicensed buyer, who wants to see some value rewarded for his efforts, faces.The cartel lives on.[/quote]

Isn’t that the truth! I’m sure there are ways around it at times, but only if the listing agent is agreeable.

[quote=Rustico]It seems like a reasonable compromise could be reached easily,on a case by case basis.

So where does that put you Now xBoxBoy?[/quote]

Well, honestly getting a license just to simplify my own purchase doesn’t seem worthwhile. I don’t think it would bring that much to the table, unless I was with a broker. And somehow I figure that he’d want some part of the commission.

I figure the best strategy is to start by approaching the seller’s agent before you make an offer. See what they are agreeable to regarding commission, etc. If they don’t seem receptive to passing the commission back to the seller, then just go with someone like redfin. (Or potentially approach someone else telling them as you suggest that I would be a low maintenance client)

But I must say I’ve really learned a lot from this thread.

XBoxBoy
[/quote]
Not a bad idea but I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb. However, I think that I would be less irritated if as a buyer agent, a buyer came to me and asked for some percentage of my cut in exchange for giving me easy business.
I have a 70% split currently and if I got half that for just doing offers and escrow that might not be so bad. I mean there would have to be some ground rules set beforehand but it would not be the worst thing.
Again I don’t mean to say that approaching the listing agent is terrible idea, just that the incentive structure does not favor you.

[urbanrealtor]

[quote=XBoxBoy][quote=Rustico]Wow, this thread has really exposed the predicament a diy unlicensed buyer, who wants to see some value rewarded for his efforts, faces.The cartel lives on.[/quote]

Isn’t that the truth! I’m sure there are ways around it at times, but only if the listing agent is agreeable.

[quote=Rustico]It seems like a reasonable compromise could be reached easily,on a case by case basis.

So where does that put you Now xBoxBoy?[/quote]

Well, honestly getting a license just to simplify my own purchase doesn’t seem worthwhile. I don’t think it would bring that much to the table, unless I was with a broker. And somehow I figure that he’d want some part of the commission.

I figure the best strategy is to start by approaching the seller’s agent before you make an offer. See what they are agreeable to regarding commission, etc. If they don’t seem receptive to passing the commission back to the seller, then just go with someone like redfin. (Or potentially approach someone else telling them as you suggest that I would be a low maintenance client)

But I must say I’ve really learned a lot from this thread.

XBoxBoy
[/quote]
Not a bad idea but I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb. However, I think that I would be less irritated if as a buyer agent, a buyer came to me and asked for some percentage of my cut in exchange for giving me easy business.
I have a 70% split currently and if I got half that for just doing offers and escrow that might not be so bad. I mean there would have to be some ground rules set beforehand but it would not be the worst thing.
Again I don’t mean to say that approaching the listing agent is terrible idea, just that the incentive structure does not favor you.

[NotCranky]

xBoxBoy,

When you go to buy a house, are you going to care more about the house or the deal?
If you care more about the deal an agent who will drop low balls and bargain hunt could save you more. This strategy and being low maintenance, to a degree, are not mutually exclusive.

If you are looking for that one “special” house and think you will find it yourself, here is an idea on the topic of rebates.Maybe it is a joke? Maybe it isn’t?

You could bid the rebate out on craigslist?

“I have a found a 1M house I am ready to pull the trigger on. I am interested in interviewing RE brokers or agents who will rebate 75% of the commission, or more, in exchange for this transaction opportunity. I have a prequalification letter(or cash) and will verify down payment prior to writing offer.Don’t hesitate… real estate sales only go down.”

[NotCranky]

xBoxBoy,

When you go to buy a house, are you going to care more about the house or the deal?
If you care more about the deal an agent who will drop low balls and bargain hunt could save you more. This strategy and being low maintenance, to a degree, are not mutually exclusive.

If you are looking for that one “special” house and think you will find it yourself, here is an idea on the topic of rebates.Maybe it is a joke? Maybe it isn’t?

You could bid the rebate out on craigslist?

“I have a found a 1M house I am ready to pull the trigger on. I am interested in interviewing RE brokers or agents who will rebate 75% of the commission, or more, in exchange for this transaction opportunity. I have a prequalification letter(or cash) and will verify down payment prior to writing offer.Don’t hesitate… real estate sales only go down.”

[NotCranky]

xBoxBoy,

When you go to buy a house, are you going to care more about the house or the deal?
If you care more about the deal an agent who will drop low balls and bargain hunt could save you more. This strategy and being low maintenance, to a degree, are not mutually exclusive.

If you are looking for that one “special” house and think you will find it yourself, here is an idea on the topic of rebates.Maybe it is a joke? Maybe it isn’t?

You could bid the rebate out on craigslist?

“I have a found a 1M house I am ready to pull the trigger on. I am interested in interviewing RE brokers or agents who will rebate 75% of the commission, or more, in exchange for this transaction opportunity. I have a prequalification letter(or cash) and will verify down payment prior to writing offer.Don’t hesitate… real estate sales only go down.”

[NotCranky]

xBoxBoy,

When you go to buy a house, are you going to care more about the house or the deal?
If you care more about the deal an agent who will drop low balls and bargain hunt could save you more. This strategy and being low maintenance, to a degree, are not mutually exclusive.

If you are looking for that one “special” house and think you will find it yourself, here is an idea on the topic of rebates.Maybe it is a joke? Maybe it isn’t?

You could bid the rebate out on craigslist?

“I have a found a 1M house I am ready to pull the trigger on. I am interested in interviewing RE brokers or agents who will rebate 75% of the commission, or more, in exchange for this transaction opportunity. I have a prequalification letter(or cash) and will verify down payment prior to writing offer.Don’t hesitate… real estate sales only go down.”

[NotCranky]

xBoxBoy,

When you go to buy a house, are you going to care more about the house or the deal?
If you care more about the deal an agent who will drop low balls and bargain hunt could save you more. This strategy and being low maintenance, to a degree, are not mutually exclusive.

If you are looking for that one “special” house and think you will find it yourself, here is an idea on the topic of rebates.Maybe it is a joke? Maybe it isn’t?

You could bid the rebate out on craigslist?

“I have a found a 1M house I am ready to pull the trigger on. I am interested in interviewing RE brokers or agents who will rebate 75% of the commission, or more, in exchange for this transaction opportunity. I have a prequalification letter(or cash) and will verify down payment prior to writing offer.Don’t hesitate… real estate sales only go down.”

[XBoxBoy]

[quote=urbanrealtor]I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb.[/quote]

I can certainly see your point, and I think whatever a buyer did, they would have to be diplomatic about it. In a case that got me writing the start of this thread, I had a number of conversations with the seller before ever talking to the seller’s agent. Then when I did talk to the seller’s agent, I first offered that they would be the broker for both, and asked if they would reduce commission or rebate commission, given that the seller and I found ourselves without the agent. At the same time, I offered the opinion, that for tax reasons the lower the purchase price the better for me, so rebating to the seller would be more beneficial than rebating to me. The agent understood this and was open to it. But by no means do I expect all agents to be open to this, and specifics of the deal were never fully defined.

But to come back to what I’ve learned from this thread, there are lots of variables and “angles” on the real estate commissions. If you want to do something different than the typical commission split between a seller’s agent and a buyer’s agent, you’re going to have to take a lot of peoples concerns (stakes) into account, you’re going to have to be diplomatic, and you’re going to have to creative in your negotiations. And yes after all that, you might just be better off to go straight to a discount broker and just use them having them rebate the commission back to you. (Redfin advertises that it will rebate 2/3rds of the buyer’s agent commission back to the buyer, so not sure how much better you’ll do on your own. And let’s not forget that others might also give 2/3rd back or maybe a different/better deal.)

[XBoxBoy]

[quote=urbanrealtor]I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb.[/quote]

I can certainly see your point, and I think whatever a buyer did, they would have to be diplomatic about it. In a case that got me writing the start of this thread, I had a number of conversations with the seller before ever talking to the seller’s agent. Then when I did talk to the seller’s agent, I first offered that they would be the broker for both, and asked if they would reduce commission or rebate commission, given that the seller and I found ourselves without the agent. At the same time, I offered the opinion, that for tax reasons the lower the purchase price the better for me, so rebating to the seller would be more beneficial than rebating to me. The agent understood this and was open to it. But by no means do I expect all agents to be open to this, and specifics of the deal were never fully defined.

But to come back to what I’ve learned from this thread, there are lots of variables and “angles” on the real estate commissions. If you want to do something different than the typical commission split between a seller’s agent and a buyer’s agent, you’re going to have to take a lot of peoples concerns (stakes) into account, you’re going to have to be diplomatic, and you’re going to have to creative in your negotiations. And yes after all that, you might just be better off to go straight to a discount broker and just use them having them rebate the commission back to you. (Redfin advertises that it will rebate 2/3rds of the buyer’s agent commission back to the buyer, so not sure how much better you’ll do on your own. And let’s not forget that others might also give 2/3rd back or maybe a different/better deal.)

[XBoxBoy]

[quote=urbanrealtor]I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb.[/quote]

I can certainly see your point, and I think whatever a buyer did, they would have to be diplomatic about it. In a case that got me writing the start of this thread, I had a number of conversations with the seller before ever talking to the seller’s agent. Then when I did talk to the seller’s agent, I first offered that they would be the broker for both, and asked if they would reduce commission or rebate commission, given that the seller and I found ourselves without the agent. At the same time, I offered the opinion, that for tax reasons the lower the purchase price the better for me, so rebating to the seller would be more beneficial than rebating to me. The agent understood this and was open to it. But by no means do I expect all agents to be open to this, and specifics of the deal were never fully defined.

But to come back to what I’ve learned from this thread, there are lots of variables and “angles” on the real estate commissions. If you want to do something different than the typical commission split between a seller’s agent and a buyer’s agent, you’re going to have to take a lot of peoples concerns (stakes) into account, you’re going to have to be diplomatic, and you’re going to have to creative in your negotiations. And yes after all that, you might just be better off to go straight to a discount broker and just use them having them rebate the commission back to you. (Redfin advertises that it will rebate 2/3rds of the buyer’s agent commission back to the buyer, so not sure how much better you’ll do on your own. And let’s not forget that others might also give 2/3rd back or maybe a different/better deal.)

[XBoxBoy]

[quote=urbanrealtor]I would probably approach the buyer agent first and not bother with the listing agent. Were it me, as the listing agent, I think it would start on the wrong foot to be asked to be the only pro and give up the cbb.[/quote]

I can certainly see your point, and I think whatever a buyer did, they would have to be diplomatic about it. In a case that got me writing the start of this thread, I had a number of conversations with the seller before ever talking to the seller’s agent. Then when I did talk to the seller’s agent, I first offered that they would be the broker for both, and asked if they would reduce commission or rebate commission, given that the seller and I found ourselves without the agent. At the same time, I offered the opinion, that for tax reasons the lower the purchase price the better for me, so rebating to the seller would be more beneficial than rebating to me. The agent understood this and was open to it. But by no means do I expect all agents to be open to this, and specifics of the deal were never fully defined.

But to come back to what I’ve learned from this thread, there are lots of variables and “angles” on the real estate commissions. If you want to do something different than the typical commission split between a seller’s agent and a buyer’s agent, you’re going to have to take a lot of peoples concerns (stakes) into account, you’re going to have to be diplomatic, and you’re going to have to creative in your negotiations. And yes after all that, you might just be better off to go straight to a discount broker and just use them having them rebate the commission back to you. (Redfin advertises that it will rebate 2/3rds of the buyer’s agent commission back to the buyer, so not sure how much better you’ll do on your own. And let’s not forget that others might also give 2/3rd back or maybe a different/better deal.)

[Author]

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